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Senate committee hears bill to boost KPERS 3 dividend credits; proponents say change would help teacher recruitment and retention
Summary
A Senate committee heard testimony on House Bill 2,086, which would lower the dividend-interest threshold for KPERS 3 from 6% to 5% and raise the dividend share from 75% to 80%, increasing estimated benefits for long‑career Tier 3 members and carrying estimated one‑time and ongoing costs for state and local employers.
The Senate Committee on Financial Institutions and Insurance on Thursday heard testimony on House Bill 2,086, which would change how dividend interest credits are calculated for KPERS 3 members by lowering the return threshold from 6% to 5% and increasing the dividend share from 75% to 80%.
Proponents including the Kansas Association of School Boards and the Kansas National Education Association said the change would modestly improve retirement benefits for many teachers and help recruitment and retention. "Improving that benefit would greatly help us in addressing the teacher shortage in Kansas," said Shannon Campbell, Kansas Association of School Boards. "The impact that the KPERS benefit has on our ability both to recruit new teachers and then keep them in the profession throughout their careers here in Kansas, is becoming a significant issue."
Tim Graham of the Kansas National Education Association told the committee that teacher shortages are real in Kansas and that Tier 3…
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